China Real Estate Evergrande Group, which is deeply trapped in debt crisis, Evergrande Group GroupAfter 17 months of suspension, it was announced that all resumption requirements have been met, and the resumption will be resumed from next Monday (August 28).
Comprehensive Surging News and Bloomberg reported that China Evergrande Group issued an announcement on the evening of Friday (August 25) that the company has met the six requirements of the resumption of trading next week and has applied to the Hong Kong Stock Exchange at 2023On August 28th, the shares of the trading company will be resumed at 9 am.
Evergrande's last transaction price was HK $ 1.65 (S $ 0.29), a decrease of about 95%from the peak in 2017, with a market value of 21.8 billion Hong Kong dollars.
Evergrande Group first appeared in the US dollar debt default in December 2021. Since then, it has negotiated for reorganization and creditors for nearly two years.As of the end of last year, the total loan was as high as RMB 2.437 trillion (the same is Same as 453.3 billion yuan).
Evergrande announced the suspension on March 21 last year.According to the regulations of the Hong Kong Stock Exchange, if Evergrande has suspended for 18 months, it will face the risk of being delisted.China Evergrande's resumption of trading also means that after the resumption of Evergrande Property and Evergrande Automobile, Evergrande's listed company has fully resumed trading.
In order to meet the requirements of the resumption, Evergrande Group released the long -term delayed 2021 and 2022 financial reports last month, and actively disclosed asset operation, management integrity issues, internal control audit of enterprises, and subsidiaries Evergrande EvergrandeThe property of 13.4 billion yuan of deposits was made in the pledge incident.
In July last year, the then executive chief executive of Evergrande, Xia Haijun, chief financial officer Pan Darong, and other executives were revealed to arrange for the subsidiaries Evergrande property to provide guarantee for third -party companies to obtain bank loans to third -party companies with regular deposits.However, because these companies were unable to repay the loan, 13.4 billion yuan of Evergrande property was seized by the bank.
The announcement issued by Evergrande on Friday disclosed the progress of the investigation of the case.However, Xu Jiayin said that he did not review these documents, and no one reminded him to pay attention to these documents, because at a critical time, he was not responsible for the company's finances and funds, but relied on executive handling related matters responsible for finance and funds.
